The Exchange

Last Trading Week of May Ahead After Holiday

It had to happen at some point. Yes, Wall Street finally broke its 4-week winning streak, with the major indices down overall this past week amid Fed tapering worries (even as "don't fear the taper" became a rallying cry by some), a Nikkei plunge and weak manufacturing data from China.

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But one particular record still held, as the Dow rose for a 19th straight Tuesday before the slump began in later trading Wednesday. This is the longest Tuesday streak in history and the second-longest weekday streak ever (good cocktail party fodder: the longest streak ever was in 1968, when the blue-chip index was up for 24 straight Wednesdays). Will we go for 20 Tuesdays when Wall Street opens next week after the long holiday weekend? Stay tuned.

Retailers had a tough time this week, with Gap, Abercrombie & Fitch, Aeropostale and Sears (SHLD) all sinking following disappointing earnings and same-store sales. Next week we'll see another trickle of retailers on the earnings front, including Costco (COST), Tiffany (TIF), DSW Inc. (DSW) and Wet Seal (WTSL).

The last week in May will also bring data including a second pass at Q1 GDP, a read on consumer confidence and some more housing numbers. Here are some other items investors and headline watchers should be looking out for in the week ahead:

Sunday, May 26

  • Bank of Japan Minutes

Monday, May 27

  • U.S. Markets closed for Memorial Day holiday

Tuesday, May 28

  • Data: S&P Case-Shiller Home Price Index, 9:00 a.m. ET; consumer confidence, 10:00 a.m. ET; Dallas Fed manufacturing survey, 10:30 a.m. ET
  • Overseas Data: Japan retail sales, 7:50 p.m. ET
  • Earnings: Tiffany, Wet Seal, GuideWire Software (GWRE)
  • Auctions: 3-month bill, 6-month bill, 2-year note
  • From Daily Ticker: Generation I.O.U.: Why college students should always follow their passions, not the jobs market
  • From Breakout: Stock Picks for Latecomers: ChartLabPro.com's Greg Troccoli; Apple Is Still Vulnerable, Could Test $250 in a Bear Market
  • From columnist Rick Newman: An Odd New Worry for Investors: A Pickup in Jobs

Wednesday, May 29

  • Earnings: Dollar General (DG), Michael Kors (KORS), Movado Group (MOV)
  • Auctions: 4-week bill, 52-week bill, 5-year note
  • From Daily Ticker: Guest Sallie Krawcheck
  • From Breakout: Capital Markets' Charlie Smith on markets and news of the day

Thursday, May 30

  • Data: Weekly jobless claims, 8:30 a.m. ET; GDP, 8:30 a.m. ET; pending home sales index, 10:00 a.m. ET; EIA natural gas report, 10:30 a.m. ET; EIA petroleum status report, 11:00 a.m. ET
  • Overseas data: EU: Economic sentiment, 5:00 a.m. ET; Japan CPI, 7:30 p.m. ET; Japan household spending, 7:30 a.m. ET; Japan unemployment rate, 7:30 p.m. ET; Japan industrial production, 7:50 p.m. ET
  • Earnings: Costco, Guess (GES), LionsGate (LGF), Krispy Kreme (KKD)
  • Auctions: 7-year note
  • Court hearing for alleged Boston bomber Dzhokhar Tsarnaev
  • From Breakout: Jon Najarian on markets and news of the day

Friday, May 31

  • Final trading day of May
  • OPEC meeting in Vienna
  • Data: Personal income and outlays, 8:30 a.m. ET; Chicago PMI, 9:45 a.m. ET; consumer sentiment, 9:55 a.m. ET
  • Overseas data: EU unemployment rate, 5:00 a.m. ET; EU index of consumer prices, 5:00 a.m. ET

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